LIC isn’t paying back our money after 3 months of surrendering LIC Policy

[User_81ba64e5]

U

User_81ba64e5
PARTICIPANT
February 17, 2025 at 9:21 am

Me and my brother have 4 LIC policies (2 each) with money-back benefits. Our close “relative” manipulated my parents into starting these policies. We’ve been paying premiums for over 6 years. In December 2024, I applied to surrender all four policies, and my “relative” took all the necessary documents, saying they would handle the process.

It’s been 3 months, and we still haven’t received our money. The relative is not answering calls and keeps making false promises.

I want to file an official complaint and take legal action if necessary. Can someone guide me on how to proceed? What are my options, and on what legal grounds can I take action? Any advice would be greatly appreciated!

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[User_5f04cc16]

U

User_5f04cc16
PARTICIPANT
February 17, 2025 at 9:34 am

Ask ur agent. I got my surrender money within a week. Ur agent creating problem ig.

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[User_81ba64e5]

U

User_81ba64e5
OP
February 17, 2025 at 10:32 am

that “relative” is my agent

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[User_362ddc62]

U

User_362ddc62
PARTICIPANT
February 17, 2025 at 11:10 am

Same even I got my surrender money in a week. That relative of yours hasn’t filed for surrender i bet.

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[User_81ba64e5]

U

User_81ba64e5
OP
February 17, 2025 at 11:27 am

yes

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[Pragatirider881]

P

Pragatirider881
PARTICIPANT
February 17, 2025 at 2:03 pm

Look up the process to file a complaint against the “agent”. Alternatively just get duplicate docs and apply for surrender yourself.

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[Indiandude2263]

I

Indiandude2263
PARTICIPANT
February 17, 2025 at 11:16 am

Just create login for LiC website and lodge a complaint . Dont even get in touch with relative.

Lic complaint system is top notch

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[User_81ba64e5]

U

User_81ba64e5
OP
February 17, 2025 at 11:27 am

okay! Thanks for helping.

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[User_10fcaf62]

U

User_10fcaf62
PARTICIPANT
February 17, 2025 at 12:57 pm

Title is misleading, It’s not LIC but an agent

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[Desishark6045]

D

Desishark6045
PARTICIPANT
February 17, 2025 at 3:56 pm

You haven’t even visited an LIC office once and already talking about legal grounds.

Just go to an LIC office and enquire whats happening first. Who is the nominee and which is the bank account number given or who was cheque handed over to. mostly you were duped by relative

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